I can agree with they probably don’t do anything until June. But if DOE says ok and no huge red flags come up from MARAD by then I think Delfin makes a move.
This shell is actually more valuable now than it has been in recent history. Prepare to be blindsided again, but in a good way. Delfin is just one of at least a hundred private oil and gas companies in the United States. It seems entirely possible that one or more of these revenue producers would consider going public via reverse merger.
And yes, regulatory agencies don’t always attract the best types.
So why not make a deal with some of their friends in the industry? This would buy Delfin 20 years to clear the regulatory hurdles.